Ant Financial Launches Ant Financial Technology Brand with Full Suite of Technology Products and Services to Support Growth of Financial Institutions

20.9.2018 09:43:00 | Business Wire

Del

Ant Financial Services Group (“Ant Financial” or “the Company”) today
announced that the Company would open up a full suite of technology
products and services under a new brand, Ant Financial Technology, to
support the growth of financial institutions by improving user
experience and lowering costs.

Announcing the launch of the Ant Financial Technology brand at the 2018
Ant Technology Exploration Conference (ATEC) in Hangzhou, Xi HU, Deputy
CTO of Ant Financial said, “Since our establishment in 2014, Ant
Financial has focused on developing cutting edge technologies to enable
inclusive finance. We are pleased that our technology products and
services have already been used to improve efficiency and lower costs at
approximately 200 financial institutions, including more than 100 banks,
over 60 insurance companies, and more than 40 asset management firms and
security brokers. Going forward, we will offer a full suite of
technology products and services to power the growth of our financial
institution partners and help them extend their services to more
individuals.”

These technologies have withstood the tests of some of the world’s most
extreme use cases. For example, in the large-scale financial transaction
portfolio, Alipay, Ant Financial’s mobile payment and lifestyle
platform, was comfortably able to process a record breaking 256,000
payment transactions per second at the peak of the 2017 Singles’ Day
Shopping Festival.

Ant Financial’s technology solutions for financial institutions enable
the delivery of services – from payments to wealth management –
efficiently and at scale, and the Company’s institutional partners have
realized concrete gains from implementing these solutions. For example,
by implementing two of Ant Financial’s large-scale financial transaction
technologies – SOFAStack (Scalable Open Financial Architecture), Ant’s
financial grade distributed framework, and OceanBase, its financial
distributed database – PICC Health Insurance increased its policy
processing speed by a few thousand times, reduced daily reporting
processing time from 4 hours to 6 minutes and shortened new product
launch time by 80%. In addition, Bank of Nanjing also leveraged
SOFAStack and OceanBase to expand its loan underwriting capacity to
comfortably process one million loans per day, with an average
processing speed of less than one second.

Wenkai ZHOU, Vice President, Bank of Nanjing commented, “The rapid
development of financial technology has had a profound impact on the
traditional financial industry. To overcome some of the growth
challenges of our business, we partnered with Ant Financial to build a
distributed digital finance platform. This significantly enhanced our
ability to underwrite loans and led us to expand our partnership in a
number of other areas.”

Financial institutions have increasingly recognized the ability of Ant
Financial’s technology products and services to streamline operations.
In June 2018, Ant Financial announced that it would share a full suite
of AI capabilities with asset management companies to increase
operational efficiency and reduce costs. In May 2018, banks including
Huaxia Bank, China Everbright Bank, Shanghai Pudong Development Bank,
China CITIC Bank, and Bank of Tianjin signed strategic cooperation
agreements with Ant Financial to support the digital transformation of
these banks.

Ant Technology Exploration Conference (ATEC) is an annual flagship event
that Ant Financial initiated in 2017. The conference brings together
global partners and technology experts to explore frontier technologies
and innovative ways of using technology to create positive impacts for
society. The 2018 ATEC, which is being held in Hangzhou, will feature
technology experts from leading financial institutions such as China
Construction Bank, Citibank and China Everbright Bank.

About Ant Financial

Ant Financial Services Group is dedicated to using technology to bring
the world equal opportunities. Our technologies, including blockchain,
artificial intelligence, security, Internet of Things and computing,
empower us and our ecosystem partners to serve the unbanked and
underbanked, bringing more secure, transparent, cost-effective and
inclusive financial services to individuals and SMEs worldwide.

Ant Financial has formed international partnerships with global
strategic partners to serve local users in those markets, and we serve
Chinese travelers overseas by connecting Alipay with online and offline
merchants in popular destinations. By the end of March 2018, together
with its global JV partners, Ant Financial served 870 million users
worldwide. Brands under Ant Financial Services Group include Alipay, Ant
Fortune, Zhima Credit, MYbank and Ant Financial Cloud.

For more information on Ant Financial, please visit our website at www.antfin.com
or follow us on Twitter @AntFinancial.